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Guardianship planning: securing your children’s future

On Behalf of | Aug 6, 2024 | Estate Planning

When parents travel, they often worry about what might happen to their children if an unexpected tragedy occurs. To ensure someone you trust will care for your children if unforeseen circumstances prevent you from being there, it is important to understand what guardianship is, why it is important, and how to set up a guardianship plan.

What is guardianship?

Guardianship is a legal arrangement where someone you trust takes over the care and responsibility for your child if you are not able to. This person will make important decisions about your child’s upbringing, including education, health care, and general welfare. In Michigan, you can designate a guardian by creating a will or a legal document known as a “designation of standby guardian.”

Why is it important?

Without a guardianship plan, the state might choose to care for your children, which would delay things and put additional stress on your loved ones. Planning ahead ensures that someone you trust, who understands your values and parenting style, will care for your children. This peace of mind is invaluable, especially when traveling or facing uncertain situations.

How to set up a guardianship

Start by choosing a responsible and trustworthy person who shares your values and can provide a stable environment for your child. Discuss your plans with this person to ensure they are up to the task. Consult with an estate planning attorney to create a legally binding document that outlines your wishes clearly. Periodically update this document to reflect any changes in your circumstances or preferences.

Establishing a guardianship plan proactively ensures your children’s future security. By making these arrangements, you protect your children from uncertainty and provide them with a stable and caring environment in your absence.